Economy - Abia ThinkTank News

Mar

2026

Iran War: NLC Demands Tax Relief, Cost Of Living Allowance

Iran War: NLC Demands Tax Relief, Cost Of Living Allowance The Nigeria Labour Congress on Sunday demanded urgent intervention from the Federal Government to cushion the effects of the recent spike in petrol prices, calling for a cost-of-living allowance, a wage award for workers, tax relief, and immediate steps to revive the country’s public refineries. The labour body said the sharp rise in fuel prices—now selling between N1,170 and N1,300 per litre—has worsened the economic hardship facing Nigerian workers and citizens, warning that the nation risks severe social unrest if urgent measures are not taken. The NLC also accused the…

Mar

2026

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By Abia ThinkTank

Relief As Dangote Refinery Slashes Petrol Price By N100

News Flash, Economy, Oil & Gas

Relief As Dangote Refinery Slashes Petrol Price By N100 The Dangote Refinery has reduced its ex-gantry price of petrol by ₦100 per litre, offering a slight relief to fuel marketers and motorists after recent increases triggered by volatility in global oil prices. According to the refinery’s latest pricing template released on Tuesday, petrol will now sell at ₦1,075 per litre, down from the previous rate of ₦1,175. The facility also announced that petrol supplied through coastal distribution channels will cost ₦1,050 per litre. The company also adjusted its diesel price downward, cutting it to ₦1,430 per litre. This represents a…

Mar

2026

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By Abia ThinkTank

We’ve Survived, Governors No Longer Borrow For Salaries- President Tinubu

Abuja, Economy, FGN, News Flash

We’ve Survived, Governors No Longer Borrow For Salaries – Tinubu President Bola Tinubu has said that Nigeria has overcome economic challenges under his administration, stressing that state governors no longer run to banks for loans to pay salaries. The President made the remarks on Monday while hosting religious and traditional leaders for an interfaith breaking of the fast at the Presidential Villa, Abuja, according to a statement by his spokesperson, Bayo Onanuga. President Tinubu promised to continue making the most of the opportunity given to him to lead the country by sustaining the trajectory of economic growth and prosperity. “I…

Mar

2026

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By Abia ThinkTank

Billionaire Watch: Why Igbos Are Rarely On The Forbes List

Business, Columns/Opinions/Letters, Economy

Billionaire Watch: Why Igbos Are Rarely On The Forbes List Forbes Magazine recently released its latest Africa Rich List and, as expected, the usual Nigerian heavyweights featured prominently. Leading the pack is Africa’s richest man, Aliko Dangote, with a net worth estimated at $28.5 billion. Abdul Samad Rabiu follows in third place with $11.2 billion. Mike Adenuga ranks sixth with $6.5 billion, while Femi Otedola appears further down the list at number twenty-two with a fortune of $1.3 billion. Out of the twenty-three individuals listed across Africa, Nigerians accounted for four. While the list confirmed Nigeria’s continued presence among Africa’s…

Mar

2026

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By Abia ThinkTank

Dangote Refinery Hikes Petrol Price To N995

Economy, News Flash, Oil & Gas

Dangote Refinery Hikes Petrol Price To N995 The Dangote Petroleum Refinery has increased its Premium Motor Spirit gantry price to N995 per litre, marking a sharp N221 rise within four days, amid volatility in global crude oil prices and shipping costs. A senior official of the refinery confirmed the development to PUNCH Online on Friday, explaining that the latest price adjustment followed recent shifts in global oil market fundamentals. “Yes, the price has been reviewed. The new gantry price is now N995 per litre,” the official said. The new price represents an increase from N874 per litre, which itself was…

Feb

2026

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By Abia ThinkTank

External Reserves Jump To $48.37bn, Gain $2.47bn In 1 Month

Abia State, Economy, News Flash

External Reserves Jump To $48.37bn, Gain $2.47bn In 1 Month Nigeria’s external buffers strengthened further in February 2026 as its foreign reserves climbed sharply to $48.37 billion, highlighting sustained inflows and improved liquidity conditions in the economy. Latest data from the Central Bank of Nigeria (CBN) show that gross external reserves rose from $45.90 billion recorded on January 13, 2026 to $48.37 billion as of February 16, 2026. This represents a $2.47 billion increase within one month, translating to a 5.4 per cent rise over the period. The accretion extends a recovery cycle that began in the second half of…

Feb

2026

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By Abia ThinkTank

People Attacking Tinubu’s New Tax Policy Lack Understanding- Governor Otti

Columns/Opinions/Letters, Economy, Politics, Presidency

People Attacking Tinubu’s New Tax Policy Lack Understanding – Gov Otti Abia State Governor, Alex Otti, has defended President Bola Tinubu’s new tax reform laws, saying critics of the policy do not fully understand its provisions. Otti threw his weight behind the reforms, revealing that several elements of the new tax framework reflect arguments he made nearly a decade ago regarding Nigeria’s fiscal direction. “Almost 10 years ago, I wrote about the fiscal side of things. When I read the new tax reform law, I saw many of those arguments reflected in it. I thank Prof. Oyedele. When people att+ck…

Feb

2026

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By Abia ThinkTank

Diplomacy As Development: How International Partnerships Are Powering Abia’s Economic Reset – By Prof Chukwuemeka Ifegwu Eke

Abia State, Columns/Opinions/Letters, Economy, Good Governance

Diplomacy as Development: How International Partnerships Are Powering Abia’s Economic Reset By AProf. Chukwuemeka Ifegwu Eke In an era where subnational governments compete not only domestically but globally, international partnerships are no longer ceremonial—they are strategic economic instruments. Abia State’s recent diplomatic engagements under Governor Alex C. Otti reflect a deliberate shift from isolation to integration, aligning local economic transformation with global capital, technology, and governance networks.Across Africa, states that attract foreign partnerships typically demonstrate three features: fiscal discipline, institutional reform, and policy clarity. These are the pillars emphasized by multilateral institutions such as the World Bank and IMF in…

Feb

2026

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By Abia ThinkTank

Sunday Igboho Hails Nnamdi Kanu For Ending Sit-At-Home

Economy, News Flash, Security

Sunday Igboho Hails Nnamdi Kanu For Ending Sit-at-home Yoruba nation activist, Sunday Adeyemo, widely known as Sunday Igboho, has commended the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, for cancelling the long-standing Monday sit-at-home across the South-East states. In a statement issued on Friday through his legal counsel, Pelumi Olanjengbesi, Igboho described the development as both thoughtful and timely, noting that it would significantly reinvigorate socio-economic activities in the region. He added that the decision would help create an enabling environment for small and medium-sized enterprises, as well as entrepreneurs, to thrive. Kanu, who is currently serving…

Feb

2026

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By Abia ThinkTank

Valentine’s Day: CBN Lists Money Bouquets As Offence

CBN/Commercial Banking, Economy, News Flash

Valentine’s Day: CBN Lists Money Bouquets As Offence As Valentine’s Day draws near, the Central Bank of Nigeria’s (CBN) 2023 warning against money bouquets is making the rounds again. The apex bank had classified money bouquets, a popular gift among lovers, as a form of naira abuse. In a flier shared on its official Twitter handle in 2023, the CBN listed money bouquets alongside other prohibited practices, including spraying, selling, squeezing, and defacing naira notes. Citizens were urged to report incidents of naira abuse, with the CBN emphasising: “It is your civic duty to protect the naira. Report naira abuse…